Little Falls transcript., 1887-06-10

recorder, the giving OF notice OF elec-
ton and canvass of votes in proper
farm, prescribing the form of ballot to
be used (naming the proper town or
village instead Of the county,, and
authorizing the board of supervisors
or village council to issue the bonds.
The amount OF bonds authorized to be
voted by the county is S25, 600; by the
village of Little Falls, $4,000; by the
town Of Little Falls, $25,00O; by the
town Of Pike Creek, $4,000; by the
town Of Belle Prairie, $40 900; max ing
q total Of 100000. In all cases the
bonds to run thirty years and draw
FIVE per cent interest. 1t is unnects-
sary to publish all the laws, and the
following is the county law:
AN ACT
70 Authorize Morrison county to issue
bonds in aid Of the improvement OF the wa
ter power of the Mississippi river at the
village OF Little Fails.
Be it enacted by the Legislature Of the State
otMinnesota:
SECTION ONE.
That the county of Morrison in the state
of Minnesota is hereby authorized to issue
the bonds of said county to the amount OF
twenty-five Thousand dollars for the pur-
pose ofaiding in the construction of a dam
across the Mississippi river at the village of
Little Falls in said county, and otherwise
improving the water power OF said river at
said village. The dam and improvements
to be built or made within a quarter of a
mile north or south of the wagon bridge
over the Mississippi river opposite Oak
street in said village.
SECTION TWO.
Said bonds shall he issued in sums ornot
less than five hundred dollars nor more
than one thousand dollars, payable thirty
years from date of issue with interest cou-
pons attached and shall bear interest at the
rate off1ve per cent per annum, payable an
nuall y, at such place as the county commits
sioners of said county may designate.
The said bonds to be issued on the order
of the county commissioners OF said county
and shall he signed by the chair
man OF said board and sealed with
the seal Of said county and coultersignetl
by the auditor OF said county who shall
keep a record Of all the bonds issued, show
ing the number, date and amount Of said
bonds and the name OF the person or per-
sons to whom they are drawn: and the
countyscolnmissione. shall have authority
to negotiate the sale OF said bonds in such
way as in their judgement shall best sub
serve tho interests OF said county
SECTION THREE.
Neither the said bonds nor the proceeds
from the sale thereofsh lie used for any
other purpose than those specified in sec
tion one ofthis act.
SECTION FOUR.
That it shall be the duty Of said county
after the negotiation Of said bonds to levy
tax sufficient to pay the annual interest
thereon and during the last ten years Of the
term of said bonds, also levy a sufficient ad-
ditional tax to create a sinking ;und sufii-
Cient to pay the principal of said bonds ut
their maturity.
SECTION FIVE
That nothing shall be carried into effect
under the provisions OF this act until some
person or persons, company or corporation.
as the case may be, file with the county
auditor Of said county a statement setting
forth that the person or persons, company
or corporation making the statement is
ready to build dam and make the improve
ments and said statement must set forth as
near as practicable, the extent Of the i'm
provement to lie made and the estimated
cost ofsu ch improvement.
SECTION SIX.
That said bonds or the proceeds from the
sale thereotshall not be paid or used in aid
of the dam and improvements until said
dam and improvements are completed
in mpl,ance with the statement fled with
the county auditor under section five ofthis
act are substantially complied with and the
cost of the construction Of said dam and i'm
provements made must have been at least
the full amount of the bonds issued, en-
elusive OF all aid given by any towns OF
villages in said county.
SECTION SEVEN.
That the proposition of the issue of said
bonds shall be submitted to vote of the
electors OF said county at the next annual
town meeting after section i've Of this act
has been complied with. Provided howey-
er that the said propositiolt rnay be sub
mitted to vote ofthe electors of said eolln-
ty at any time after section five of this act
has been complied with, at any special
election whenever thirty or more freehold
ers and voters Of said county shall petition
the county auditor of said county for the
holding of special election to vote upon
the issue of said bonds. Said vote shall be
cast at said town meeting or special meeting
election as the case may be, in the same
manner as votes cast for town officers and
said votes shall be canvassed in the same
manner as votes cast for county officers, and
ii upon such canvass the majority of the
votes cast shall be in favor of the issuing of
said bonds the board of county commits
sioners shall issue said bonds as provided by
this act IL. s.. Z = ,s.z ~
SECTION RIGHT. .sz
It is hereby made the duty Of the county
prior to said annual town meeting, 80 mott
II the town clerks Of the several towns o1
said county to insert : paragraph in the no.
tice. of the annual town meeting, setting
forth that the question Of issuing bonds win
be voted upon at said town meeting and il il
hereby made the duty Of the town clerks ot
the several towns ofsaid county 10 inser,
the said notice in said notice Of annual town
meeting and If the proposition Of the issue
Of said bonds shall be decided at = special
meeting, it shall be the duty Of the auditor
ofsaid county within fifteen days from the
time 81 receiving the petition for such spec
| i'll meeting, to cause notices to be posted ID